REGISTERED NUMBER: SC425068 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

King Edward Tyre Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C I Henderson

REGISTERED OFFICE:

The Garage

King Edward

Banff

Aberdeenshire

AB45 3NJ

REGISTERED NUMBER:

SC425068 (Scotland)

ACCOUNTANTS:

J M Taylor Accountants

6 Market Square

Oldmeldrum

Aberdeenshire

AB51 0AA

FIXED ASSETS

Intangible assets

4

600

1,600

Tangible assets

5

80,132

83,839

80,732

85,439

CURRENT ASSETS

Stocks

30,720

40,750

Debtors

6

19,881

24,000

Cash at bank

9,022

9,099

59,623

73,849

CREDITORS

Amounts falling due within one year

7

34,578

50,242

NET CURRENT ASSETS

25,045

23,607

TOTAL ASSETS LESS CURRENT LIABILITIES

105,777

109,046

CREDITORS

Amounts falling due after more than one year

8

161,016

166,275

NET LIABILITIES

(55,239

)

(57,229

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(55,240

)

(57,230

)

SHAREHOLDERS' FUNDS

(55,239

)

(57,229

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2026 and were signed by:

C I Henderson - Director

1.	STATUTORY INFORMATION

King Edward Tyre Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

10,000

AMORTISATION

At 1 June 2024

8,400

Charge for year

1,000

At 31 May 2025

9,400

NET BOOK VALUE

At 31 May 2025

600

At 31 May 2024

1,600

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2024

60,901

107,143

168,044

Additions

-

3,421

3,421

At 31 May 2025

60,901

110,564

171,465

DEPRECIATION

At 1 June 2024

5,487

78,718

84,205

Charge for year

-

7,128

7,128

At 31 May 2025

5,487

85,846

91,333

NET BOOK VALUE

At 31 May 2025

55,414

24,718

80,132

At 31 May 2024

55,414

28,425

83,839

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Trade debtors

16,981

24,000

Other debtors

2,900

-

19,881

24,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Hire purchase contracts

5,979

7,648

Trade creditors

10,410

25,868

Taxation and social security

9,103

6,621

Other creditors

9,086

10,105

34,578

50,242

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/25

31/5/24

£

£

Other creditors

161,016

166,275